Elme Communities (NYSE:ELME) Issues FY 2024 Earnings Guidance

Elme Communities (NYSE:ELME) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.910-0.950 for the period, compared to the consensus EPS estimate of 0.920. The company issued revenue guidance of -. Elme Communities also updated its FY24 guidance to $0.91-0.95 EPS.

Elme Communities Price Performance

ELME stock traded up $0.23 on Thursday, hitting $16.69. 652,412 shares of the company’s stock traded hands, compared to its average volume of 635,395. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -27.20 and a beta of 0.89. Elme Communities has a 1-year low of $12.44 and a 1-year high of $16.98. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $15.74 and a 200-day moving average of $14.85.

Analyst Ratings Changes

Separately, Truist Financial lifted their price target on Elme Communities from $15.00 to $16.00 and gave the company a hold rating in a report on Wednesday, May 15th.

Elme Communities Company Profile

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.